TruGolf Holdings

TruGolf traces its brand back to 1983 and describes its mission as making golf more available, approachable, and affordable for everyone. Its operating subsidiary TruGolf, Inc. (TruGolf Nevada) was formed in 1995 as a subsidiary of the game developer Access Software; after MicrosoftMicrosoftMicrosoft is a technology company founded by Bill Gates and Paul Allen in 1975 and headquartered in Redmond, Washington, with businesses spanning Windows, Microsoft 365, Azure, enterprise software, artificial intelligence, gaming and devices.Open the full entry acquired Access Software in August 1999, the core programming and graphics team of the Links golf video game series was spun out to TruGolf Nevada. The company says that since 1999 it has worked to establish residential and commercial golf simulation as a viable industry.⁠[1][1][2][2][2]

Today’s listed entity was incorporated in Delaware on July 8, 2020, as Deep Medicine Acquisition Corp. (DMAQ), a special purpose acquisition company formed to effect a business combination. On July 21, 2023, DMAQ signed an amended and restated merger agreement with parties including TruGolf, Inc. and its co-founder Christopher Jones, and a first amendment followed on December 7, 2023.⁠[2][2][2]

On January 31, 2024, TruGolf and DMAQ completed their business combination; TruGolf Nevada became a wholly owned subsidiary of the listed company, which was renamed TruGolf Holdings, Inc., after DMAQ stockholders approved the merger at an extraordinary general meeting on January 19. The shares began trading on Nasdaq under the ticker TRUG on February 1, 2024. Co-founder and CEO Chris Jones called the listing a significant milestone and a vehicle to accelerate growth; DMAQ CEO Humphrey Polanen said DMAQ shared TruGolf’s vision of making golf accessible to more people.⁠[2][1][1][1][1][1]

For accounting purposes, the merger was treated as a reverse recapitalization: DMAQ was treated as the acquired company and TruGolf Nevada as the accounting acquirer, and no goodwill or other intangible assets were recorded.⁠[2][2][2]

Under authority granted at a special meeting of stockholders on May 30, 2025, the board approved a 1-for-50 reverse stock split effective at 12:01 a.m. Eastern Time on June 23, 2025, reducing outstanding Class A common stock from about 40.5 million shares to about 0.81 million and Class B common stock from about 10 million shares to about 0.2 million; the ticker remained TRUG.⁠[3][3][3][3][3]

In fiscal 2025 (ended December 31, 2025), TruGolf’s net revenue was $18.879 million, down 11.3% from $21.283 million in fiscal 2024; golf simulators (hardware and perpetual licenses) contributed $14.682 million and content software subscriptions $3.710 million. The loss from operations was $6.102 million and the net loss $15.228 million (fiscal 2024: $8.795 million); the wider net loss was driven mainly by lower gross profit and a $6.135 million loss on extinguishment of debt arising from the exchange of PIPE convertible notes for Series A preferred stock. Cash and cash equivalents stood at $10.469 million at the end of 2025.⁠[2][2][2][2][2][2][2][2]

Following approval at the annual meeting of stockholders on February 17, 2026, the company completed its redomestication from a Delaware corporation to a Nevada corporation on March 10, 2026. On March 16, director Shaun Limbers resigned, and Brenner Adams stepped down as Chief Growth Officer and was appointed a director.⁠[2][2][4][4]

On May 1, 2026, the company signed an employment letter with certified public accountant Steven Passey to serve as Chief Financial Officer from May 15, with an initial annual base salary of $225,000 rising to $250,000 after three months.⁠[5][5][5]

TruGolf’s hardware includes launch monitors such as APOGEE and LaunchBox and residential and commercial simulators including STARTER, MAX, Signature, Premium, and custom models; its software includes E6 CONNECT, which supports practice, course play, mini-games, online events, and commercial tools, and E6 GOLF, positioned as a next-generation improvement and simulation platform. Sales are organized around industry verticals, targeting customers such as golf courses, including pro shops and private clubs.⁠[2][2][2][2][2]

As of the date of its fiscal 2025 annual report, the company had about 68 employees (67 full-time and 1 part-time); its headquarters is a leased facility of about 19,381 square feet in Centerville, Utah, and it leases a second facility of about 13,000 square feet in North Salt Lake for manufacturing, assembly, repairs, inventory storage, and logistics.⁠[2][2][2]

TruGolf: Official website: https://trugolf.com/ (opens in a new window).⁠[6]

Polymath: Official website: https://polymath.network/ (opens in a new window).⁠[7]

X: Public account: https://x.com/TruGolfSim (opens in a new window)⁠[6]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Public profile: https://www.linkedin.com/company/trugolf (opens in a new window)⁠[6]

YouTubeYouTubeYouTube is Google’s video-sharing and creator platform, founded in 2005 by Steve Chen, Chad Hurley, and Jawed Karim and acquired by Google in 2006. Built around video uploading, viewing, and creator earnings, the platform has developed Shorts, YouTube Music, Premium, YouTube TV, and products for children, and is headquartered in San Bruno, California, United States.Open the full entry: Public channel: https://www.youtube.com/user/trugolf (opens in a new window)⁠[6]